This research will investigate the potential for development of new cutting/lubricating fluid slurries that would have significantly higher thermal capacities than those currently available and would have potential application to high-speed machining. Fluid slurries will be designed, fabricated, and tested in both the laboratory and the machine shop to demonstrate the conceptual feasibility for provision of superior cooling and lubricating performance for machining operations at atmospheric pressure. The derivation of new cooling and lubricating fluids with significantly improved thermal properties could increase cutting tool life, improve product quality and uniformity, reduce time for tool changing, increase production, reduce thermal distortion of products, facilitate precision engineering, and reduce both fluid loss and operator exposure to potentially hazardous fumes associated with vaporizing current fluids during high-speed machining operations.