Abstract: A coating exhibiting superior resistance to petroleum products and an absence of known carcinogens as well as a method of preparing same is the subject of the present invention. The coating comprises a combination of a water slurry of filler material to which a latex polymer and coupling agent have been added together with a polyphenyl compound to which plasticizer and surfactant have been added. The water slurry comprises 40-60 weight percent water, 15-35 weight percent filler, 1-10 weight percent latex polymer, 0-2.0 weight percent coupling agent and up to 1 percent by weight colorant. The binder base comprises 10-50 weight percent tertiary or higher polyphenyls, 1-6 percent by weight compatible plasticizer, and 0.05 to 1.0 weight percent nonionic high molecular weight polyester surfactant and is heated. After heating, the binder base and water slurry are combined to form the composition of the invention. A thickener, adhesion promoter and bacteriostat may be added to the product.