Just felt I needed to pay it forward. Tons of misinformation out there on P0016 error code. It can be the camshaft position sensor, the crankshaft position sensor or a loose timing belt.. Bottom line when this error goes on the computer "cripples" the engine so that you can't rev more than @ 3K rpm.

My check engine light came on and several times ( always at the most unopportune times ) my truck would either die or just no start...ugh!

Went to Pep Boys and purchased both the camshaft and crankshaft sensors to start eliminating the possible problem. When I opened the crankshaft sensor box I could see that it had been installed before ( oil on the O ring and nut marks on the mounting plate) I opted not to install it and just replaced the camshaft position sensor. BTW I opted for the slightly more expensive Borg Warner parts.
Reset the computer by disconnecting the battery and turning the ignition on for 30 seconds. Problem solved! Runs great no longer crippled and 300 miles later no problems YEAH! Guess I got lucky and I'm just fine with that!

 

Great info but just to clarify on one small thing, we have timing chains so they dont exactly stretch and get loose like a belt does/will

 

Got this code earlier in the year. Replacing the camshaft position sensor took care of it.

 

Actually chains do stretch over time.

 

Thanks for the info

 

I had a ticking noise for a while on my 2003 Ram 1500 4.7. engine light and cam sensor was popped, turned out to be a defect, Stretched timming chain... Replaced timeing chain and tensioners

 

chains almost Never stretch.

they ware out the holes in the plates and the pins get thinner.