Is it true that "Lubrication is important for mechanical parts"?

In machinery, mechanical parts such as a cutting tool may be rubbed several times with the workpiece. This ends up releasing energy in the form of heat. This may result in a thermal deformation of the machine part. Therefore, lubrication helps in decreasing the chance of overheating by reducing the rubbing of the elements. 

Mechanical parts require fast movement and less production of heat. This is achieved through lubrication.