Misting oil to protect machine surfaces in a damp environment?

Thanks for all the advice! Now what type of oil should I use inside the lathe? Also is there an easy way to see how much is in the areas it is needed? Again, I just acquired this lathe and do not know the previous upkeep regimine.
 
Mobile Vactra 2 for the ways and Velocite for the spindle. There are mixed opinions about the best gear lube--oil, graphite grease, moly grease, etc.

The site below sells small quantities of lubricants, as commercial lubes typically come in 5 gal pails. Of course the cheapest would be to find a friendly machine shop that would likely give you a several year supply.

 
To address humidity, I bought one of those wheeled dehumidifiers with a tank and a hose hookup.
I did the same thing. It stays on 24/7 but only cycles when it reaches over the set humidity setting which I have at 55%. Works very well. Don't have rust problems anymore.
 
About 40 years ago when we worked in an automotive machine shop we mixed whatever motor oil that was handy with solvent at about 10 parts solvent to 1 part oil.

Place in spray bottle or air powers spray can.

Sprayed this on crank rod and main after polishing as well as anything that had a surface rust in nin- machined areas.

The solvent evaporates leaving behind a very thin oil film.

Adjust ratio as needed.

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Like NCjeeper my shop has a dehumidifier on wheels that cycles itself on and off as needed. It keeps humidity in the shop under 55% when outside it can go over 90%. We have cold dry winters and hot humid summers so the shop is well insulated with a vapor barrier.
The machines have a coating of oil just from being used.
Considering everything that is in the shop (measuring tools, drills, blades, etc.) that needs protection from rust, controlling the level of humidity in the shop is a necessity. Plus you get a better comfort level for yourself.
 
I did the same thing. It stays on 24/7 but only cycles when it reaches over the set humidity setting which I have at 55%. Works very well. Don't have rust problems anymore.

I did that at first, and found it kicked on once an hour, usually only for a few minutes to knock the humidity back a couple of degrees. Seemed like a big waste of power, so I experimented with various timer settings (every four hours, every six, etc) and found that twice a day keeps the humidity down while not making an appreciable difference to the power bill.

Having said that, I spent a couple years in VA, and the humidity there is insane. I can see why you'd run it 24/7.

As for the oil, what ACHiPo said is basically what manufacturers of these machines recommend: Velocite for the machine and Vactra for the ways. I bought a gallon of each, which is somewhat pricey (about 40-50 bucks a gallon), but now I use them on all the other machines as well. As mentioned, there are people online who will sell you an 8 or 12oz bottle for something like ten bucks.
 
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Another vote for Johnson's paste wax. It has worked great for me. All the machines and tooling I have put it stay bright, while I have see rust form on material in my scrap bucket.
 
I have a small hobby machine shop growing in my non-heated 1890’s carriage house with a brick floor that has excess humidity and condensation at various times during the year .....

Also is there a simple method to remove humidity from a space without adding a full hvac system?
In this situation not much is going to help with the humidity. Dehumidifiers work well if the space is reasonably sealed. With a brick floor with no vapor barrier the moisture is going to be coming in as fast as the dehumidifier is taking it out.
 
Robert has made a good point. Depending on your medium and long term plans for that work space, it might be worth laying some flooring panels (see link for example) over the brick now, before the shop 'grows' too much and fills with machines.
Sorry for getting away from the original question but I would like to think that you have a fighting chance to control rust with oil/wax coatings by combining it with other measures.

 
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I have an uninsulated concrete floor in the shop in my barn - the only insulation is in the walls and ceiling. Sure, it's not optimal - water wicks up from the ground, the concrete isn't even sealed. The dehumidier works just fine, though.
 
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