A bulk-flow thermohydrodynamic (THD) analysis is developed for prediction of the static and dynamic performance characteristics of turbulent-flow, process-liquid, hydrostatic journal bearings (HJBs). Pointwise evaluation of temperature and hence liquid properties is achieved through the solution of the energy equation in the fluid film with insulated boundaries, and justified for fluid film bearings with external pressurization. Fluid inertia within the film lands and at recess edges is preserved in the analysis. Flow turbulence is accounted through turbulence shear parameters based on friction factors derived from Moodys formulae. The effects of fluid compressibility and temperature variation in the bearing recesses are included. Numerical solution and results are presented in the second part of this work and compared with some limited experimental data for a liquid hydrogen (LH2) bearing.