A new line of live tools for turret-lathe applications overcome the duty-cycle limitations of standard tools. Unlike existing tools that are restricted to limited run time due to frictional heating of the bearings and seals, the Planet Live Tool (PLT) uses a patent-pending bearing lubrication and cooling system. The PLT has no restrictions on cycle time or duty cycle, allowing near-continuous machine cycles on turret lathes and a reduction in the number of tools. Jobs that once had to be run on a multispindle machine can now be done on a turret lathe.