In small bowl, combine flour, baking powder, baking soda, and salt. In large bowl, beat peanut butter and butter with electric mixer until light and fluffy; add sugars and continue beating until creamy. Gradually beat in vegetable oil and vanilla; add egg. Add flour mixture; beat until just combined. Stir in chocolate chips. Drop dough by rounded teaspoons onto ungreased cookie sheet, spacing 1-1/2 in. apart.
Bake 11-13 minutes or until puffed and golden. Cool 1 minute on cookie sheet; transfer to a cooling grid and cool completely.