An internal combustion engine with a dry sump lubrication system is disclosed. The dry sump lubrication system has an oil pan coupled to the engine, an oil reservoir, an oil discharge tube coupling between the oil pan to the oil reservoir, an oil supply tube coupling the oil reservoir to the engine, and a vent tube coupling the oil reservoir to the intake manifold. The dry sump lubrication system may have a fresh air tube coupled to the oil reservoir. A control element coupled to an upstream side of the fresh air tube controls fresh air supplied to the oil reservoir. The oil reservoir may be insulated to retain energy in the oil during short shutdown periods. The oil reservoir may have a heat exchanger which allows engine coolant to flow through the heat exchanger.