Since water is considered the universal solvent, I wouldn't use water at all.
Water even mixes with oil - if you create an emulsion/emulsifier.
If I remember, I think egg whites do that - as in mayonnaise.

Also, I think liquids have to high a coefficient of friction for PM machines.
Perhaps gasses/plasmas?

Dreaming ain't Doing..!
<sigh> Darn semicolons - I always manage to miss at least 1..!