|This article is written from the Real World perspective|
|Release Date||November 16, 1996|
|Writer|| Mark Hoffmeier|
John Semper, Jr.
Robert N. Skir
Green Goblin makes a frightening return and declares war on Spider-Man, Kingpin, and Hobgoblin.
At the same park, Mary Jane Watson believes that Peter Parker isn't safe because she attracts the likes of Dormammu, Baron Mordo, Hydro-Man, and even Venom. Peter reassures her that as long as they love each other everything will be fine.
The old man tries to pawn it and accidentally turns it on. Peter sees the new portal and Mary Jane begrudgingly lets him leave. Spider-Man saves the old man and the pawn shop owner and tries to grab the device.
But Hobgoblin arrives to take the device for himself and flees. While escaping from a bank robbery Hobgoblin's cape is cut off when the portal closes. Realizing the device is low on power Hobgoblin goes to his Kingpin informant to get another power supply. However, it's the last one and Kingpin won't make more. Hobgoblin confronts Kingpin with a proposition. Hobgoblin will help Kingpin with theft and smuggling as long as Kingpin provides the necessary power packs for the device. After Hobgoblin leaves Kingpin laments having to work with him. Herbert Landon says they would need to know his secret identity to stop him for good.
Felicia Hardy and Jason Macendale have an engagement party with all their friends and associates. Peter claims that although Felicia looks beautiful he has the prettiest woman in the room. Harry Osborn agrees and again yells at Peter for stealing his girl. Mary Jane goes off to talk to Harry and Felicia drags Peter off to talk to Jason. When Jason and Peter are about to shake hands Peter's Spider-Sense goes off. Wilson Fisk arrives and assume he set it off. Fisk again apologizes Peter going to jail and then leaves to talk to Norman Osborn. Jason begins prattling on and Peter excuses himself so he can listen in on Norman and Fisk's conversation.
Kingpin is demanding Norman's help. He wants to know the true name of the Hobgoblin. Norman does not want to talk about Hobgoblin or any goblin and tries to leave. Kingpin then threatens to hurt Harry and Norman agrees to tell him everything. Spider-Man drops down and Felicia catches him think he came there for her. Spider-Man asks if she really loves Jason and she asks if he has a better offer. Because he can't love someone as Peter and another as Spider-Man, he tells her no and leaves.
At Oscorp Industries Norman cannot stop the Green Goblin's voice. In the bathroom Norman's reflection changes into the Green Goblin and the two begin a conversation. Green Goblin convinces Norman that people like Kingpin and Spider-Man are trying to hurt him and Harry. Norman agrees and lets the Green Goblin take over.
At Kingpin's hideout, Hobgoblin uses the device to get Kingpin's men into the Federal Depository. Spider-Man then comes through the portal from the depository and fights Hobgoblin. Kingpin and Hobgoblin get the upper hand until Green Goblin shows up and attacks Hobgoblin. Kingpin lets the two fight thinking they'll eventually destroy each other. Hobgoblin is amazed that Norman gave his technology to anyone else and that Green Goblin is stronger than he. Green Goblin eventually opens a hole in the roof and he, Hobgoblin, and Spider-Man escape. Hobgoblin eventually uses the device to escape leaving Spider-Man to attack Green Goblin. Green Goblin knocks Spidey into the water and goes after that rank amateur and impostor Hobgoblin.
At Jason's mansion, Felicia is going over his study. When one of the walls sounds hollow she finds a secret room containing the Hobgoblin's costume and Goblin weapons. Hobgoblin appears behind Felicia and reveals himself to be her fiance Jason. Jason tells her that he was once a petty crook and that everything he has now is because of crime. Now that Felicia knows the truth Jason can't let her not marry him or else he would have to kill her.
Green Goblin arrives and Jason is no match for him. Green Goblin has been studying Ohn's technology and forces Felicia and Jason through a portal to Oscorp.
Green Goblin rigged Felicia and Jason above a vat of boiling acid. Jason tries to bargain with Green Goblin but Green Goblin's only in this to make things easier for Norman Osborn. Spider-Man arrives to stop Green Goblin but he still manages to begin lowering Jason and Felicia into the vat. Spider-Man tries to stop save the two but Green Goblin uses the device to cut his webbing and grab him. Spider-Man enters the portal and defeats Green Goblin and saves the two. Spider-Man then uses the Goblin's weaponry to damage the device. There's still enough power to create one more portal. Spider-Man warns against entering but Green Goblin would rather be trapped in limbo than be defeated by him.
Felicia then begins questioning the still tied up Jason. Jason had nothing before crime, even Felicia. He didn't really love her, only things about her such as wealth, beauty, and refinement. As Jason is taken away by the police Felicia confides in Spider-Man that he is like a black cat bringing bad luck to everyone around her. With just enough energy Green Goblin manages to return to Oscorp. He's going to seek revenge on those like Kingpin, Hobgoblin, and especially Spider-Man and plans to make his own modifications to the device.
- Mary Jane should have no reason to blame herself for Venom or even know that he was some kind of supervillain. He was imprisoned for trespassing on government property. Even if it became public that he said he was Venom, he was considered insane so she shouldn't think too much of him.
- While Jason Macendale is revealed to be the Hobgoblin, in the episode "The Hobgoblin, Part One", the back of the Hobgoblin's head is seen and it is a different person. He may have changed his looks so he would not be recognized as a petty thug.
- Another notable difference with Hobgoblin is that his hood was shown to be part of his cape in his introduction. But when he takes his mask off in this episode, his hood comes off with it.
- Last appearance of Hobgoblin.
The title and concept of the two goblins fighting each other comes from The Amazing Spider-Man #312.