Unless this effect (which is additional to the magnetic field issue just discussed) were corrected for, carbon dating of fossils formed in the flood would give ages much older than the true ages.
Creationist researchers have suggested that dates of 35,000 - 45,000 years should be re-calibrated to the biblical date of the flood. Such a re-calibration makes sense of anomalous data from carbon dating—for example, very discordant “dates” for different parts of a frozen musk ox carcass from Alaska and an inordinately slow rate of accumulation of ground sloth dung pellets in the older layers of a cave where the layers were carbon dated. Also, volcanoes emit much COC.
Also, the Genesis flood would have greatly upset the carbon balance.
The flood buried a huge amount of carbon, which became coal, oil, etc., lowering the total C ratio in plants/animals/the atmosphere before the flood had to be lower than what it is now.
Since the flood was accompanied by much volcanism (see Noah's Flood…, How did animals get from the Ark to isolated places? ), fossils formed in the early post-flood period would give radiocarbon ages older than they really are.
In summary, the carbon-14 method, when corrected for the effects of the flood, can give useful results, but needs to be applied carefully.
This is the “half-life.” So, in two half-lives, or 11,460 years, only one-quarter of that in living organisms at present, then it has a theoretical age of 11,460 years.