There are machines that are called "tappers". They look very much like
power drills, but have a chuck suitable for holding square shank taps
properly, and reverse when pulled. They are actually very nifty if you
have money to buy one, new or used. They also help keep taps straight,
etc.

Example is he

http://www.toolbarn.com/product/bosch/1462VS/

The greatest tapping compound is sold by Doall and is called
Accu-lube. It has consistency similar to vaseline, sticks well to the
tap, and lubricates well.

i