A method and system for lubricating at least one moving part with a lubricating medium includes a chamber configured to house at least one moving part, a lubricant reservoir configured to house a liquid lubricant, a gas reservoir configured to house a gas, and a controller configured to supply a first amount of the gas in the form of bubbles to a second amount of the liquid lubricant to entrain the bubbles of gas in the liquid lubricant. The controller is also configured to regulate proportions of the liquid lubricant and the gas as a function of at least one operating condition, including at least one of pressure, temperature, and flow rate, a solubility relationship between the liquid lubricant and the gas, and a size of the bubbles of gas, and supply the liquid lubricant with entrained bubbles of gas to at least one moving part.