MPC (along with all refiners) appear considerably cheap to replacement value. MPC's chart pattern indicates it has placed in an upward sloping wedge formation. PetroChina building refining capacity to the tune of $70,740 per refined barrel. This is above the industry average of $32,800. With these new figures in place, industry replacement value offers a substantial upside. Cash Flow, Share Buy-Backs, Cash Levels are all strong!