HEAT oven to 350F; SPRAY cookie sheets with cooking spray.
In medium-size bowl, STIR flour, oats, baking soda, baking powder, and salt; MIX well; SET aside.
In large bowl with electric mixer at high speed, BEAT butter, brown sugar and granulated sugar until light and fluffy; BEAT eggs and vanilla in thoroughly.
REDUCE speed to low; BEAT in flour mixture just until blended; FOLD in butterscotch chips and cashews.
DROP dough by rounded tablespoonfuls onto prepared cookie sheets; BAKE until lightly browned, about ten minutes
COOL cookies 1 minute on cookie sheets; REMOVE to wire racks to cool completely.
Makes about 3 1/2 dozen. To toast cashews, HEAT small dry skillet over medium heat. Add cashews; COOK 5 to 6 minutes, stirring frequently until golden. COOL before chopping.
Per Serving (excluding unknown items): 547 Calories; 23g Fat (37.1% calories from fat); 7g Protein; 81g Carbohydrate; 3g Dietary Fiber; 78mg Cholesterol; 400mg Sodium. Exchanges: 2 Grain(Starch); 1/2 Lean Meat; 4 1/2 Fat; 3 1/2 Other Carbohydrates.