Stoichiometric means running at an air/fuel ratio where the amount of oxygen and fuel present are the perfect amount for complete combustion -- for our engines it's right around 14.7:1 air/fuel ratio. Theoretically that would combust all the fuel, and leave no excess oxygen or unburned hydrocarbons. However, it changes slightly due to the fact that we're not running pure oxygen (air is only about 22% oxygen), the fuel has many combustible compounds in it, not just octane (C3H8), etc. The most power is made right around 13-13.5:1 air/fuel. Overall emissions are minimized in the same range or just a tad richer (a bit less than stoich). In general, power will decrease as you get leaner or richer compared to the number above. And overall emissions will increase as you get leaner or richer -- however, each component - HC, CO and NOx does different things as you move in different directions from stoich. That's part of the challenge of meeting of emissions -- you go in one direction with mixture to solve say an unburned HC issue, and your NOx increases. Go the other way to solve the NOx, and your HC gets worse. Kind of a catch 22 that requires the engine to operate in a very narrow band of mixture - which is why fuel injection and feedback (O2 sensors) were developed. Probably TMI - too much information.