Thanks to Pete and Jim for the replies.
I don't know what they use for lubricant.
I see Foredom brand shaft lubricant offered on EBay.
I don't think the one I purchased had been used or lubricated in a long time. First thing I did was put some oil in the oil ports on the motor bearings. I had not lubricated the shaft yet. The rubber shaft jacket has a crack in it right where it leaves the motor. I found a new genuine Foredom replacement sheath for $15 on Ebay and purchased it.
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