In this work, the effect of tool rake angle and cutting speed on residual stresses of tool was studied, the rake angles of 0°, 5°, 10°, 15°, and 20° and a constant clearance (Relief angle) of 8° were used to turn bright mild steel on the lathe machine, A total of 15 experiments were carried out with three different cutting speeds (37.69, 59.37, 94.24 m/min) for each rake angle, keeping the feed rate and depth of cut constant. During the experimentation, the residual stresses were measured using an x-ray diffractiometer. This is all in order to explore the energy savings opportunities during regrinding of tools, useful production time and energy is being wasted due to regrinding or re-sharpening of tools when cutting tools got worn or blunt, selection of the rake angle which generate the optimum residual stresses in the tool, goes a long way in saving these time and energy.