Looking NNW from I-64 overlooking River Road, E (upriver) of intersection with Clay St. [later Witherspoon St.].
<p>At far left are grain silos at Gold Proof Terminal.
Left of center is <a href="https://en.wikipedia.org/wiki/Big_Four_Bridge" class="extiw" title="w:Big Four Bridge">Big Four Bridge</a>.
At center are emulsification equipment (?) and storage tanks at <a href="https://en.wikipedia.org/wiki/Chevron_Corporation" class="extiw" title="w:Chevron Corporation">Chevron</a> <a href="https://en.wikipedia.org/wiki/Asphalt" class="extiw" title="w:Asphalt">Asphalt</a> Terminal.
At right are red building and electrical transformers (near River Road) at <a rel="nofollow" class="external text" href="http://www.riverway.com/">Riverway</a> Louisville Terminal.
Railroad tracks run along north side of River Road.
</p><p><a href="https://en.wikipedia.org/wiki/Ohio_River" class="extiw" title="w:Ohio River">Ohio River</a> mile 603.
<a href="https://en.wikipedia.org/wiki/Louisville,_Kentucky" class="extiw" title="w:Louisville, Kentucky">Louisville, Kentucky</a>.
January 1988.
File # 88a079.
________________________________________________
.
Three silver tanks to right of center read (from left):
</p><p>"Heated asphalt emulsion".
"Heated cutback immiscible emulsion" (immiscible means unblendable, or not <a href="https://en.wikipedia.org/wiki/Miscibility" class="extiw" title="w:Miscibility">miscible</a>).
"<a href="https://en.wikipedia.org/wiki/Diesel_fuel" class="extiw" title="w:Diesel fuel">Diesel fuel</a> no. 2 [?]".
.
As I understand it, <a href="https://en.wikipedia.org/wiki/Asphalt#Asphalt_emulsion" class="extiw" title="w:Asphalt">asphalt emulsion</a> is a mixture of tiny droplets of asphalt, water and a small amount of emulsifying agent to keep the asphalt in suspension (see <a rel="nofollow" class="external text" href="http://www.aema.org/page/faqs">Asphalt Emulsion FAQs</a>).
This reduces <a href="https://en.wikipedia.org/wiki/viscosity" class="extiw" title="w:viscosity">viscosity</a> and allows the asphalt to be used (e.g. <a href="https://en.wikipedia.org/wiki/asphalt_concrete" class="extiw" title="w:asphalt concrete">asphalt concrete</a> for road construction) without being heated, though this tank seems to be heated.
The water eventually evaporates, leaving the asphalt behind.
</p><p><a rel="nofollow" class="external text" href="http://www.pavementinteractive.org/article/Cutback-Asphalt/">Cutback asphalt</a> is a mixture of asphalt and a petroleum solvent such as <a href="https://en.wikipedia.org/wiki/kerosene" class="extiw" title="w:kerosene">kerosene</a>, which evaporates after the asphalt has been applied..
Cutbacks are no longer used much because they release <a href="https://en.wikipedia.org/wiki/Volatile_organic_compound" class="extiw" title="w:Volatile organic compound">volatile organic compounds</a> as they cure.
</p><p>If the words on the middle tank are taken literally, it contains asphalt which has been both cut back and emulsified, but I don't know. 
If anyone can clarify this point, please leave a comment.
________________________________________________
</p><p>From <a rel="nofollow" class="external text" href="http://www.riverway.com/history/history.htm">The History of Riverway</a>:
</p><p>"On January 4, 1972, an enterprise that eventually became Riverway Louisville Terminal Co. began operation primarily loading and unloading coal, fertilizer, salt and steel. Located at mile 603 on the Ohio River, the terminal occupied approximately 14 acres of property with nearly 1100 feet of river frontage footage. Situated on the site were eight liquid storage tanks with total holding capacity of 110,000 barrels of fuel or 20,300 tons of liquid fertilizer. A petroleum dock was situated just west of a barge loading area.  Six rail lines could accommodate up to 100 rail cars. The conveyor belt could load or off-load 700 tons of coal per hour. 
The reasoning behind owning a terminal in Louisville was quite simple -- grain loadings from St. Paul to New Orleans, salt from New Orleans to Louisville and coal from Louisville to St. Paul. The strategy never entirely worked out, but the  terminal was quite successful. The terminal property was donated to the City of Louisville in 1995 as part of the Waterfront Development Initiative."
____________________________________
.
35 mm Kodachrome.
Plustek OpticFilm 7600i and Silverfast 8.
Picture Window 6.
</p>
JPEG quality 95.
<a rel="nofollow" class="external text" href="https://www.flickr.com/people/70020260@N04">William Alden</a> from Louisville, Kentucky, USA
CC BY-SA 2.0
<a rel="nofollow" class="external text" href="https://www.flickr.com/photos/bill_alden/9585243736/">88a079: Looking NNW toward River Road east of Clay St.</a>