Chocolate Chip Peanut Butter Oatmeal Cookies

1/2 cup butter or margarine
1/2 cup peanut butter
1/2 cup sugar
1/3 cup brown sugar
1 egg
1 tsp vanilla
1 1/2 cups flour
1/2 cup oats
1 tsp baking soda
1/2 tsp baking powder
1/4 tsp salt
1-2 cups chocolate chips or M&M’s (or some of both)

Cream butter, peanut butter, and sugars; beat in egg and vanilla. Stir in dry ingredients and chips. Drop by spoonfuls on cookie sheets. Flatten slightly. Bake at 350 for about 7-8 minutes.