It is shown to be possible to make a finely dispersed stable emulsion from liquids differing in nature and polarity by the use of the wave technology. The dispersion of the emulsions made by the wave method is higher by an order of magnitude than that of emulsions made by the traditional technology with a mechanical stirrer (up to 1000 min(-1)) with the same treatment time. When such emulsions are used as lubricating and cooling liquids, the cutting speed can be increased and the finish of the workpiece is improved.