wood tar

Tar is a black mixture of hydrocarbons and free carbon  obtained from a wide variety of organic materials through destructive distillation. Tar can be produced from coal, wood, petroleum, or peat. Production and trade in pine-derived tar was a major contributor in the economies of Northern Europe and Colonial America. Its main use was in preserving wooden vessels against rot. The largest user was the Royal Navy. Demand for tar declined with the advent of iron and steel ships.

Tar is a viscous organic black liquid.

Time at Risk (TaR) is a time-based risk measure designed for corporate finance practice.