I'll supplement that answer somewhat. Synthetic crude oil is really a result of the upgrading of bitumen. It's a kind of refining process. The bitumen is high in carbon and low in hydrogen compared with normal crude oils. The process is to either reduce the carbon or add hydrogen or both. The end result is that it's a synthetic crude oil that's not unlike a light, sweet crude oil that you might find in other situations.
On October 24th, 2006. See this statement in context.