Despite being labeled as part of Final Crisis, complete with trade dress, Rage… is much more concerned with setting up part of The Blackest Night event.
On the planet of Ysmault in the slightly clichéd sector 666, Atrocitus gains a red ring becoming the first of the Red Lanterns.
On Earth, Hal Jordan is notified that the Guardians have finally agreed to execute Sinestro but rather than perform it on Oa, they want him taken to Korugar, his home planet. Jordan and other Lanterns are called to Oa to escort him there.
Scar, the Guardian who suffered at the Anti-Monitor’s hands during the Sinestro Corps War, contacts Green Lantern Ash who has found part of the Anti-Monitor’s husk. She sends him on his way into sector 666 to track down the corpse of the Anti-Monitor for her own needs.
Jordan faces Sinestro on Oa as Atrocitus raises his own Red Lantern Corps with the intention of having revenge upon Sinestro who, in one way or another, has injured or wronged many of his Coprs.
Elsewhere, the Controllers divine a power source, an Orange light, on the planet Okaara which they hope will allow them to create their own Corps.
As the Green Lanterns escort Sinestro to Korugar, they are ambushed by members of the Sinestro Corps, apparently alerted to their location by Scar. As they seek to free their master, however, both they and the Green Lanterns are attacked by Atrocitus and his Red Lanterns who manage to abduct Sinestro, leaving Jordan and other GLs stranded. Before Jordan’s ring runs out of power, however, the Blue Lantern – Saint Walker – appears and saves him.
Back on Ysmault, Atrocitus ridicules a crucified Sinestro and is enraged when his taunts fail to get a rise out of his captive.
In space, Blue Lantern Walker overcomes the suspicions of the remaining Green Lanterns, ridding them of the lingering effects of the Red Lanterns’ rage before taking Jordan to Odym, home of the Blue Lanterns. There he sees Ganthet and his fellow exiled Guardian Sayd induct the latest member of the Blue Lanterns, named Warth. Ganthet asks Jordan to trust him and explains, albeit cryptically, that both Sinestro and Jordan are important in the forthcoming War of Light. He asks Jordan to help the Blue Lanterns bring Sinestro to Odym.
On the planet Zamaron, the Sinestro Corps member called Fatality is forcibly converted into one of the Star Sapphires, her yellow ring replaced by a violet one. Her first task for her new ring to is locate John Stewart.
On the way to Ysmault to free Sinestro, Jordan and the Blue Lanterns encounter a sun about to go supernova and destroy a world of almost three billion people. To Jordan’s astonishment, the Blue Lanterns heal the sun, saving the world. To his further surprise, Blue Lantern Walker reveals that after Jordan rescues Sinestro, he is to relinquish his green ring and lead the Blue Lantern Corps.
Back on Ysmault, Atrocitus uses sacrifice and rituals to find the one thing Sinestro truly fears: he discovers Sinestro has a daughter.
Though Walker attempts to persuade Jordan to return with him to Odym once Sinestro has been rescued, Jordan refuses to quit the Green Lanterns, pledging to rescue Sinestro from Atrocitus but only to take him back to Oa.
Flying ahead of the Blue Lanters, Jordan finds Sinestro crucified on Ysmault and, despite himself, Jordan thinks back to when he was Sinestro’s student before hardening his heart against him. Launching themselves from the pool of blood next to Sinestro, the Red Lanterns attack, dragging Jordan down with them, forcing him into unconciousness. When he wakes, he is tied next to Sinestro and Atrocitus prophecies that Jordan will once more revolt against the Guardians after they take his “greatest love” from him.
As Atrocitus sets the former Green Lantern Laira on to Jordan, members of the Sinestro Corps attack the Red Lanterns and free Sinestro. Moments later, the Blue Lanterns arrive and free Jordan.
Each of the different Corps attack one another, Laira once more going for Jordan. He tries to help her overcome her rage and just as he seems to be getting through to her, she is killed by Sinestro. Jordan attacks Sinestro and is about to authorise the use of lethal force against him when Laira’s Red Power Ring finds him and, enraged by her death, he is overtaken by it, becoming a Red Lantern.
Back on Earth, Carol Ferris tries to contact Jordan and is more than a little perturbed to find Jillian “Cowgirl” Pearlman answering his phone.
Jordan fights against the influence of Atrocitus and his red Power Ring on Ysmault but appears to succumb as the Blue Lanterns are are defeated due to their one weakness: they need an active Green Lantern by their side to power their own rings. In a selfless act, Saint Walker gives Jordan his own Blue Ring which in turn cleanses him of the Red. With his control returned, Jordan attacks Atrocitus, destroying his power ring. As Jordan and the Blue Lanterns try to understand what has happened to him, Atrocitus and Sinestro both retreat with their forces.
At Ferris Air, Carol takes Jordan’s old plane up for a spin, unaware that the Zamarons are once more watching her.
Having escaped to the Anti-Matter universe, Sinestro rallies his troops, planning to gather near Daxam from where he will challenge Mongul’s claim to leadership of his Corps. First, though, he wishes to return to Korugar and his daughter.
The Controllers arrive in the Vega system, on the planet Okaara, looking for the source of the Orange power while Atrocitus divines the homeworld of the Blue Lanterns; the Zamarons recruit Carol Ferris as a Star Sapphire once more; and the Scarred Guardian begins writing the Book of The Black.