Preheat oven to 350 degrees. Spray cookie sheet or line with parchment paper. In a large bowl mix butter, sugar, and brown sugar together until mixture resembles wet sand. Add egg and extract to mixture until blended.
Add flour, baking soda, baking powder, salt, and oats to the sugar mixture. Stir until mostly blended and then add white chocolate chips, cranberries, and nuts(optional). Mix all ingredients together until well blended.
Drop spoonful of dough about 1-2 inches apart on baking sheet and bake 12-14 minutes. Cookies will be set and slightly brown around edges and soft in middle. Transfer to wire rack for cooling.