Let $QCoh(X)$ be the category of Quasi coherent sheaves on a scheme $ X$ . If $X$ is affine and $\mathcal F \in QCoh(X)$ then it is known that the higher sheaf cohomologies are all zero i.e. $H^j(X,\mathcal F)=0,\forall j >0$. (One doesn't need $X$ to be Noetherian, see Theorem 2 of this paper by Kempf Link ) .
Now I have a question, if true, would possibly provide another proof of the above vanishing result of Serre: Let $X$ be a scheme. Suppose the global section functor $\Gamma : QCoh(X) \to Ab$ is exact. Then is $H^j (X, \mathcal F)=0,\forall j >0$ ?
The way I think a positive answer to this would provide a proof of the vanishing result is as follows: Let $X=$Spec $(R)$ be affine. If $\mathcal F$ is a Quasi coherent sheaf then $\mathcal F \cong \tilde M$ for some $R$-module $M$ . I claim that the global section functor on $QCoh(X)$ is exact. Indeed let $0\to \tilde M_1 \to \tilde M_2 \to \tilde M_3 \to 0$ be exact in $QCoh(X)$ , then since $\tilde M_x=M_P$ where $x$ is the point $P$ of Spec $(R)$, localising we get $0\to (M_1)_P \to (M_2)_P \to (M_3)_P \to 0$ is exact for every $P \in$ Spec $(R)$, but then $0\to M_1 \to M_2 \to M_3 \to 0$ is exact and since $\Gamma(\tilde M)=M$ this proves the exactness of the Global section functor on $QCoh(X)$ .
I hope I'm not missing anything ...