The only lubricants that should ever be used on regulators or O-rings are those products specially designed for such use. The working area should also be cleared of all petroleum-based materials. Acetylene is what chemists refer to as a triple bond molecule. When the acetylene reaches kindling temperature, the bonds break and tremendous energy is released. The triple bond is why acetylene burns hotter than any other hydrocarbon gas when combined with oxygen.
Acetylene is produced by combining calcium carbide with water.
This is the same process that was used in miners lamps a century ago. A fuel leak involving acetylene is extremely hazardous. Acetylene tanks should always be stored upright. While not particularly dangerous, placing a tank in a horizontal position can cause liquid acetone to get into the cylinder valve, causing the torch to operate erratically. Place it upright for at least 30 minutes before operating the torch.