Abstract: A lubricating composition is provided which is a stable dispersion of a synthetic oil, such as polyalphaolefin oil; finely divided polymeric fluorocarbon powder, such as polytetrafluoroethylene (e.g., Teflon); a silicon dioxide powder which is substantially 100% hydrophobic; a glycol, such as polypropylene glycol; a substance to increase viscosity, such as polybutene; and an agent to withstand extreme compression loads, such as an amine phosphate. The lubricating composition is made where ingredients are added in a particular sequence and where they are subjected to the shearing action at the elevated temperatures and under vacuum.The lubricating composition provides high corrosion resistance due to the absence of dissolved air and moisture. It also has an excellent lubricity, extremely low moisture absorbancy, a very low oxidation rate and an outstanding performance under extreme compression conditions.