in a manner consistent with the requirements of this section. (5) Utilization of qualified carbon oxide (A) In general For purposes of this section, utilization of qualified carbon oxide means— (i) the fixation of such qualified carbon oxide through photosynthesis or chemosynthesis, such as through the growing of algae or bacteria, (ii) the chemical conversion of such qualified carbon oxide to a material or chemical compound in which such qualified carbon oxide is securely stored, or (iii) the use of such qualified carbon oxide for any other purpose for which a commercial market exists (with the exception of use as a tertiary injectant in a qualified enhanced oil or natural gas recovery project), as determined by the Secretary. (B) Measurement (i) In general For purposes of determining the amount of qualified carbon oxide utilized by the taxpayer under paragraph (2)(B)(ii) or (4)(B)(ii) of subsection (a), such amount shall be equal to the metric tons of qualified carbon oxide which the taxpayer demonstrates, based upon an analysis of lifecycle greenhouse gas emissions and subject to such requirements as the Secretary, in consultation with the Secretary of Energy and the Administrator of the Environmental Protection Agency, determines appropriate, were— (I) captured and permanently isolated from the atmosphere, or (II) displaced from being emitted into the atmosphere, through use of a process described in subparagraph (A). (ii) Lifecycle greenhouse gas emissions For purposes of clause (i), the term lifecycle greenhouse gas emissions has the same meaning given such term under subparagraph (H) of section 211(o)(1) of the Clean Air Act ( 42 U.S.C. 7545(o)(1) ), as in effect on the date of the enactment of the Tax Extender Act of 2017 , except that product shall be substituted for fuel each place it appears in such subparagraph. (6) Election for applicable facilities (A) In general For purposes of this section, in the case of an applicable facility, for any taxable year in which such facility captures not less than