The name of the process where cells burn glucose in the presence of oxygen is cellular respiration. This biochemical process occurs primarily in the mitochondria of eukaryotic cells and involves several stages, including glycolysis, the Krebs cycle, and the electron transport chain. During cellular respiration, glucose is oxidized to produce ATP, the energy currency of the cell, along with carbon dioxide and water as byproducts. This process is essential for fulfilling the energy requirements of living organisms and is a key component of metabolic functioning.