When you say "lard oil", are you talking about the white stuff from the grocery store that used to me used for frying? Never messed with it but always figured it was a solid like Crisco. I would use the material in question for drilling large holes in steel mostly. I have other stuff that I use for tapping (TapMagic) and machining Tri-cool or WD40). Have used kerosine in the past but did not like the smell.