Step 1: Concept Identify the conic section using the discriminant $h^2 - ab$ from the general second-degree equation $ax^2 + 2hxy + by^2 + 2gx + 2fy + c = 0$.
Step 2: Meaning Here, $a=16$, $b=1$, and $2h=8 \implies h=4$.
Step 3: Analysis Calculate the discriminant: $h^2 - ab = (4)^2 - (16)(1) = 16 - 16 = 0$.
Step 4: Conclusion Since $h^2 - ab = 0$, the equation represents a parabola.
Final Answer: (B)