Any of the Youtube licences allow you to embed videos as we can see when having a look to the 'Terms of Service' in Youtube in section 8...
Terms of Service
A. to YouTube, a worldwide, non-exclusive, royalty-free, transferable licence (with right to sub-licence) to use, reproduce, distribute, prepare derivative works of, display, and perform that Content in connection with the provision of the Service and otherwise in connection with the provision of the Service and YouTube's business, including without limitation for promoting and redistributing part or all of the Service (and derivative works thereof) in any media formats and through any media channels;
B. to each user of the Service, a worldwide, non-exclusive, royalty-free licence to access your Content through the Service, and to use, reproduce, distribute, prepare derivative works of, display and perform such Content to the extent permitted by the functionality of the Service and under these Terms.
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As an example, if I create an upload a video to Youtube that includes a song from an U2 album I will be infringing the copyright associated with the song. If you embed the video in your site you are as well. I am the person who created the video and uploaded it first but it doesn't relieve you from infringing the licence too.
I got inspired from the article here.
NOTE: There is a button to avoid other from embedding the videos you upload to Youtube but most of the people do not know it.
The content on this blog is intended to be educational and is not specific legal advice for your situation. The information is not updated.
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