We study cohomological obstructions to the existence of global conserved quantities. In particular, we show that, if a given local variational problem is supposed to admit global solutions, certain cohomology classes cannot appear as obstructions. Vice versa, we obtain a new type of cohomological obstruction to the existence of global solutions for a variational problem.2000 MSC: 58A20,58E30,46M18. keywords: jet, gauge-natural bundle, conserved quantities, cohomology. * Mauro Francaviglia suddenly passed away in June 2013; this paper is the outcome of our recent joint research work and we dedicate it to his memory.