An overview of selected issues in physical oceanography in the context of Global Climate Change provided: What is the connection between Global and Regional sea level? What is happening to the global ocean heat content? Are the estimates consistent with the observed sea level changes? What is the current state of the thermohaline circulation, how did it change over the past decade? And are we in a position to estimate its future evolution? And finally is the Tropical Ocean ventilation changing and thereby reducing the levels of dissolved oxygen, most dramatically in the subtropical oxygen minimum zones? The need for more integrated research and opportunities for global ocean observing systems will be discussed.