A power transmission belt having a main belt body portion of elastomeric material, a tensile reinforcement such as carbon fiber cord, disposed in said body portion, and a sheave contact portion integral with said main body portion. The elastomeric material includes the reaction product of a polyisocyanate prepolymer composition and a chain extender. The polyisocyanate prepolymer composition is prepared by reacting a diisocyanate and a polyol substantially free of moieties oxidative at less than about 150° C. and at least one triol crosslinker selected from the same group of polyols. Either before or after reacting the prepolymer, a plasticizer selected from the group consisting of alkyl-ether di-alkylesters such as polyethylene glycol di-alkylester is added thereto. The chain extender is an aromatic symmetric primary or secondary diamine chain extenders.