Abstract: The invention is an improved form of a rheologically modified fluid which is capable of suspending various particulates including polysaccharides, hydrocolloids, and other food approved items, in a pumpable oil-based carrier fluid. The modified fluid can be thickened such that it can be used as a lubricant or a food item. The modified fluid preferably contains food approved ingredients. A representative system comprises a carrier fluid, a thickening or gelling hydrocolloid, and an oil-thickening compound. A preferred carrier fluid is vegetable oil, a preferred hydrocolloid is xanthan gum, and a preferred oil thickening compound is fumed silica.