The transfer of electrons down the electron transport chain creates a proton gradient across the inner mitochondrial membrane, but this alone does not produce ATP. The chemiosmotic hypothesis explains how ATP is synthesized using this proton gradient. Specifically, as protons are pumped across the membrane at complexes I, III, and IV, a gradient forms. ATP synthase then uses the potential energy of protons flowing back through the membrane to phosphorylate ADP, producing ATP. Inhibitors like oligomycin block ATP synthase and prevent ATP production, tightly coupling electron transport to phosphorylation.