re: LOTR question

quote:

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If an evil being can make such a powerful ring, why can't good create a ring to counter it?

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Here's my take on this question:

Sauron was essentially a demi-god, having been the chief lieutenant of Morgoth (who could be equated to Lucifer in Middle Earth mythos). At the time of the creation of the rings he was the most powerful entity on Middle Earth. He bound a great deal of his "life force" in the one ring when he created it, and there simply wasn't a single good being that could match that power.
Also, he was the one that taught the elves how to make rings, and they couldn't match up to his ability.