Drag Reduction by Bubble Oscillations
  Drag reduction in stationary turbulent flows by bubbles is sensitive to the dynamics of bubble oscillations. Without this dynamical effect the bubbles only renormalize the fluid density and viscosity, an effect that by itself can only lead to a small percentage of drag reduction. We show in this paper that the dynamics of bubbles and their effect on the compressibility of the mixture can lead to a much higher drag reduction. 
T. S. Lo, Victor S. L'vov and Itamar Procaccia