A portable carbonated liquid dispensing system, with an adjustable, internal pressure regulating system. The complexity of the dispensing system is adaptable. In its simplest form, the system accepts a single user entered pressure setting, and utilizes system feedback to maintain pressure within a predetermined range of the selected setting. In its most complete form, pressure, flow rate and temperature feedback and control systems allow fluid to be dispensed under conditions selected via user input data regarding the type of liquid being dispensed, taking into consideration optimal pressure, flow rate and temperature relationships as determined by the manufacturer of the fluid.