Preheat the oven to 350 and line two baking sheets with parchment paper.  In a stand mixer fitted with the beater paddle, combine the peanut butter and butter on medium high until combined, about a minute or so.

Add both sugars, the egg, and the vanilla, beating for about 3 minutes.  Stop the mixer, scrape down the sides, and return to beating on medium speed.

Add the baking soda, baking powder, and oats, beating for another 3 minutes.  Turn the mixer down to low, and slowly add in the flour, beating until thoroughly combined, about 3 more minutes.

The dough can be chilled for baking later or can be rolled into 1 or 2 inch balls.  Do not flatten them.  Bake on the middle rack for about 7 minutes or until they just start to crack across the tops.

Cool on racks and try not to eat them all at once.