Carbon is often used as a conductive additive in catalyst layers to increase conductivity and catalytic activity. However, the effect of carbon addition to perovskites on the oxygen reduction (ORR) and oxygen evolution (OER) reactions is convoluted. In this work, composites of perovskite Ba0.5Sr0.5Co0.8Fe0.2O3-δ (BSCF) and conductive additives, carbon and indium doped tin oxide are compared. It is found that the conductive additives have differing effects on the ORR and OER activities and cobalt redox behavior, with carbon having a much more significant effect. In order to elucidate further these differences between BSCF and BSCF/Carbon, operando X-ray absorption spectroscopy (XAS) is measured simultaneously with cyclic voltammetry into the ORR and OER regions and the continuous changes in the Co oxidation state are observed with high time resolution. We theorize that carbon is enhancing the Co redox activity and as a result, the ORR and OER activities are likewise improved.