Libbey knew that atmospheric carbon would reach equilibrium in 30,000 years.
Because he assumed that the earth was millions of years old, he believed it was already at equilibrium.
( "Radioisotopes and the age of the earth" pg vii) To know if carbon dating is accurate, we would have to know how much carbon was in the atmosphere in the beginning, and also how long it has been increasing, or decreasing. It's like trying to figure out how long a candle has been burning, without knowing the rate at which it burns, or its original size.
See my commentary on Genesis 3 verse 17 "..cursed is the ground for your sake" When this happened there was a burst of radioactity that made the rocks appear older than they were.
What many do not realize is that carbon dating is not used to date dinosaurs. Carbon dating is only accurate back a few thousand years.
However each time they test it, they find more c14 in the atmosphere, and have realized that we are only 1/3 the way to equilibrium.
Since carbon dating measures the amount of carbon still in a fossil, then the date given is not accurate.
Unbiased science changes the theory to support the facts.
They should not change the facts to fit the theory.