The policy subsystem is the bedrock of ACF research, but empirical analysis of its evolution is limited. Focusing on Ghana, this chapter used a case study design to trace the development of the oil and gas policy subsystem by answering two research questions: (1) What are the policy core beliefs of policy actors and what issues do they debate? (2) What strategies do policy actors use and what coalitions do they form? The chapter used news media data spanning 12 years and 23 in-depth interviews with participants recruited via purposive sampling. The data were analyzed using descriptive network analysis and content analysis. The main policy core beliefs of policy actors include economy, capacity building, transparency, and accountability. Also, policy actors’ debates focused on five main issues that waxed and waned over time. Furthermore, key policy actors’ strategies include participation in public meetings and news media communications. Finally, the chapter found a dominant pro-oil and gas coalition, and a weak anti-oil and gas coalition. The chapter concludes that different policy issues, diverse actors, strategies, and advocacy coalitions are key elements in understanding the evolution of the oil and gas policy subsystem in Ghana. This conclusion, while preliminary, provides enough ground on which future research can build to better understand policy subsystems.