INTRODUCTIONThe global warming that is widely expected to occur over this century will not be confined to the atmosphere; the oceans would also get warmer. Such changes are likely to affect fish migrations and habitat, augmenting fish stocks in some places and decreasing them in others, perhaps causing stocks to be displaced permanently to new habitats. Over the next 50 years, temperatures in the Northeast Atlantic, and especially the Barents Sea, are expected to rise by 1 -3 degrees. This is expected to lead to an increase of the Northeast Arctic cod stock and to displace it in a northeasterly direction, while capelin, another important stock in this area, is expected to retreat further north and northeast. The herring stock in the Norwegian Sea is expected to be favorably affected, and mackerel is expected to migrate to a greater extent into the Norwegian Sea. As a result of a warming of the North Sea, the cod stock is expected to decline while anchovy and sardine would become more abundant. 1 Twelve-months moving average of temperatures in the 1-50 m depth range, centered in month 6, at five locations along the Norwegian coast.Temperature changes of this magnitude are not unparalleled in recent times. Figure 1 shows a 12-months moving average of temperatures at five locations along the Norwegian coast, from Lista in the far south to Ingøy in the far north. 2 The series are incomplete, and even more so than this figure shows, as we have interpolated for missing months when the gap in the data is no more than 8 consecutive months. 3 The difference between the highest and lowest average annual temperatures is 2 -3 degrees. There is little or no trend in the series; the temperatures 1 On these changes, see Stenevik and Sundby (2003). 2 These observations are taken at less than 50 meters depth.