He could totally patch that suit up with his ring. He chooses not to.
The story continues in this week's Green Lantern. Another Green Lantern, Kyle Rayner, emerges from the fear-eating monster Parallax totally naked. His fellow hero, Guy Gardner, uses his power ring to clothe poor Kyle — but only in a pair of tight-fitting boxer shorts. That's the kind of team spirit we like to see.
This Week's Haul [Living Between Wednesdays]