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  "documentTitle": "Phillips 66 (PSX)",
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  "notes": "Uses a screenshot of the company's own presentation as a 'villain' exhibit to expose a contradiction.",
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      "text": "Midstream Acquisition TEV / EBITDA Multiples vs. Phillips 66 Trading Multiple",
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      "text": "FLAWED CLAIM THAT MIDSTREAM M&A HAS BEEN ACCRETIVE",
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