Warner Bros. has pulled production of GREEN LANTERN out of Australia due to the falling value of the U.S. dollar, according to THE HOLLYWOOD REPORTER. The studio is also reconsidering filming several other projects Down Under and other foreign countries for the same reason.

As of Friday the Australian dollar was worth $.95 American, which is a 30% increase since GREEN LANTERN was given the greenlight six months ago. This change in currency value would have increased the budget by $20 million.

Insiders believe the production might move to Mexico or Canada.

Martin Campbell (CASINO ROYALE) is directing the superhero flick, which will star Ryan Reynolds (X-MEN ORIGINS: WOLVERINE). WB wants to get the film in theaters in the summer of 2011.