To embed a youtube or google video player, all you need to do is insert one simple tag into your page which takes the form

[ youtube:URL] or [ googlevideo:URL]

The URL is the url of the video in Youtube or Google Videos, just copy and paste from your browser address, e.g.  http://video.google.com/videoplay?docid=7352118104883452737 

You can also set the width and height of the player as follows:
[ youtube:URL WIDTH HEIGHT] or [ googlevideo:URL WIDTH HEIGHT]

NOTE: No whitespace at the beginning of the tag.

The result (Ferrari & Porshe vs. Electric Car):