My career was Aircraft Maintenance and all our power tools were air operated, drills, rivet guns, cutters, cutting wheels whatever.
We used a few drops of Kroil every day before hooking up an air hose. The tools lasted forever so I have to think the oil did a good job.
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CVA Optima .50
Cabela's Hawken .50
Lyman Trade Rifle .50
H&R Huntsman .50
Howard Hill Longbows