The presence of oxygen allows for an aerobic process called oxidative phosphorylation to take place. This process occurs in the mitochondria and involves the utilization of oxygen to produce a significantly larger amount of ATP compared to glycolysis alone. Through oxidative phosphorylation, a molecule of glucose can generate approximately 36-38 molecules of ATP. In contrast, glycolysis alone produces only 2 molecules of ATP. Therefore, the presence of oxygen greatly enhances the energy production capacity of the cell.