According to Cinematical, citing an L.A. Times article, the fourth Pirates of the Caribbean film is already having money issues. Disney executive Rich Ross is pressuring producer Jerry Bruckheimer to cut back on his usual extravagant expenditures by cutting special effects and filming at sea less.

To save more money, the number and selection of filming locations changed. Whereas the prior installments were shot in the Caribbean and Los Angeles, the upcoming production will be filmed primarily in Hawaii and London, where tax credits are more favorable. The number of shooting days scheduled is 90 to 95, down from 142 on the last movie. Similarly, there are expected to be 1,300 to 1,400 visual effects shots, compared with 2,000.

Once scene that is getting the axe is an “ice fair” on the frozen Thames. Another scene, an “elaborate carriage chase” is going to be shortened.

Screenwriters Ted Elliott and Terry Rossio where informed that they would have to spend more time on land scenes than ocean ones due to the higher cost of seafaring scenes. This seems like a rather strange decision for a movie about pirates, and one based on a Disneyland water ride at that.

Pirates of the Caribbean: On Stranger Tides is in pre-production and currently scheduled for release in May of 2011. The story will be based on Tim Powers’ 1988 novel On Stranger Tides, famous for inspiring the Monkey Island series of video games.