How to protect tools from rusting?

I have some tools, screw drivers, hacksaw, tube cutters, sawzall, grinder...that occasionally will come in contact with moisture, especially when working with cutting plumbing lines or working outside when it rained...I try to wipe the tools dry with a rag but sometimes it's hard for example when I am cutting a sprinkler line and the sawzall blade extended all the way into the dirt as I made the cut for the line as well as nearby roots.
Even if I wipe it dry, moisture would have gotten inside the ball bearing and I can't clean that anyways. Sometimes I spray some WD40 and tuen the tool on for a second or two.
Recently a friend told me he has a neighbor that has a 5 gallon bucket of sand, he then pour in a gallon of used motor oil so the sand is now soaked in oil. Then when he finishes working with hand tools that may be wet he insert these hand tools into the oil soaked sand bucket and leave them there and that supposedly keep things from rusting? Anyone does this? I would think this would not work for power tools you don't want sand to get anywhere near the ball bearings.
What are your tips and tricks in keeping your tools in good condition without too much hassle in cleaning them all the time?
MC
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A related question is how do you store your power tools if you don't keep them in their cases?
Do you just sit them on shelves, or you build wall hooks to hang them up? Or you build a work bench and drill big holes and you stink the narrow side in with the tools sticking up?
Looking for ideas.
Thanks,
MC
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Hand power tools; skil saw, jig saw, grinders, drill motors, brad nailers and small rotary hammers get bagged (tool bags for individual or groups of tools). Bags are hung on hooks on the frame of a rolling shelf system that holds my miter saw, 8" table saw & planner. A shelf in this system also holds my M2 stapler, NR83A, router and palm sanders.
It depends on how you use your tools...I grab my "drill bag" when I need to drill or drive; a drill index & set of paddle bits lives in the bag. My grinder bag holds two 4" grinders & a small rotary hammer, complete with wheels & bits. Jigsaw lives alone as does the skilsaw. Brad nailers (16 & 18) with a small batch of brads live together along with 15" hose. By grouping tools that are used together I can easily assemble the tools I need by grabbing a subset of bags. Oft used tools get bagged, less often...shelved. HTH
cheers Bob
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MiamiCuse wrote:

Wear a big ass leather belt and hang them from that. Muy macho.
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dadiOH
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I sprayed my entire tool drawers with Loctite "Rust Preventer" spray can. It's somewhat similar to using WD-40. Not sure if it's any better than WD-40, but at least it's designed for this specific purpose. Seems to be working after a few years, I don't see much rust at all. But also I'm in a dry climate.
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rust prevention / control depends a lot your local weather condtions
I'm in SoCal so I just spray with WD40 & wipe with a dry rag and maybe follow up with a spray silicone lube.
Pipe wrenches, I clean with water (hose off) if they're gotten dirty (crawlspace work or messy drain work), diassemble, spray with WD40 & let dry...spray with silicone
Letting dirt / crap stick on the jaws with allow distruction of the jaws, rendering the wrenches less effective
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Used motor oil is a carcinogen so I'd never play with that stuff.
There are many commercial sprays, such as Boeshild that do a good job.
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I spray my hand tools with Silicon spray. It works for me.
EJ in NJ
MiamiCuse wrote:

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Bring power tools inside where they dry fast and humidity is lower, or let them rust.
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there
My chainsaw leaks a bit (I dare say all chainsaws leak a bit) so a rag in the bottom of the case soaks up the oil. I then use this rag to wipe over tools for storage, especially cutting edges of scythe, shears etc.
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Don Phillipson
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MiamiCuse wrote:

They work fine rusty.
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MiamiCuse wrote:

I've been using LPS products for many years to inhibit corrosion. LPS 3 is their product that I've used to protect my tools, the metal ones. When I was installing enclosed power transformers to the 4,160 volt underground power grid out in The Marshall Islands, I used LPS 3 to coat the connections and it worked very well in the salty air environment.
http://www.lpslabs.com/product_pg/corrosion_pg/LPS3.html
TDD
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A bucket of sand and oil is good for garden tools like shovels. I would not want sand on hand tools, maybe a small rock and oil for hand tools.
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wrote:

Clean tools after each use, dry, wipe with an oily rag (or a rag dampened with kerosene) and store in a dry, warm location preferably inside a closed box or cupboard. The 5-gallon bucket of oily sand will work--I might use this for gardening tools, certainly not my 2-Cherries chisels nor my Starrett combination square.
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keep them out of water.
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Next time a grocery store closes and is selling fixtures, go and buy the fresh vegtable case. Being one big ass long case, this is ideal to just drop all your shit as you are wizzing by. This has to one of the la-de-da stores where the unit would lightly mist the veggies periodically. Make modifications ot mist-er supply to use a rust inhibiter.
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An old technique to prevent rust on steel tools is to wipe them down with lanolin (this really works well). I learned this from an old Scotsman..he used to ask "When was the last time you saw a rusty sheep."
EJ in NJ
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