Embodiments of the invention provide a food grade lubricant, such as one of synthetic or mineral oil origin, which can be used for the lubrication of rotary screw compressors. The lubricant composition can include a blend of incidental food contact authorized ester or a distilled, acetylated monoglyceride. The lubricant composition can also include an incidental food contact authorized polyether polyol having an average molecular weight number greater than about 1500. The blend can be compounded with additives including one or more of antioxidants, corrosion inhibitors, metal passivators, and anti-foam agents that are cleared for incidental food contact.