A submersible pumping system for downhole use in extracting fluids containing hydrocarbons from a well. In one embodiment, the pumping system comprises a rotary induction motor, a motor casing, one or more pump stages, and a cooling system. The rotary induction motor rotates a shaft about a longitudinal axis of rotation. The motor casing houses the rotary induction motor such that the rotary induction motor is held in fluid isolation from the fluid being extracted. The pump stages are attached to the shaft outside of the motor casing, and are configured to impart fluid being extracted from the well with an increased pressure. The cooling system is disposed at least partially within the motor casing, and transfers heat generated by operation of the rotary induction motor out of the motor casing.