ct essence...i am betting it is not the O2 sensor or anything to do with bank one. i bet your next codes that go with that will be P0161 and P0158 or something along those lines. i hate to say it bro, but the ECM may be going down hill. as you know if this is the case, you can get oen for $240ish and just have it flashed at your loacl dealership for @ $100 and be good to go. this is not going to hurt your car if you continue driving it like this if it is actually the ECM, but if it is actually the O2 sensor, then it could start to hurt your car in due time...but if you are mechanically inclined, shoot the wires from the ECM to the O2 sensor and see if they are good. if they are, then it is more than likely the ECM