text: No. Tarmac and asphalt are very similar, with the terms often used interchangeably at the nontechnical level. Oil-bound macadam uses liquid oil (usually salvaged or surplus, junk oil) dribbled or sprayed on a surface of crushed stone, and recently often or always (environmental concerns?) then covered with another thin layer of crushed stone and rock dust. They used to just put signs up on freshly resurfaced streets that said "caution - fresh oil" or some such, because if you didn't drive slowly, you would splatter oil on your car and passing cars. After a few days, the oil would soak in (and volatile componates evaporate). They still sign for loose gravel, and even after the surface is hardened, it tends to shed gravel, look grayer, and not last as long as asphalt.