We are a bit late in posting this, but check out “Recut, Reframe, Recycle: Quoting Copyrighted Material in User-Generated Video” from the Center for Social Media at American University. They argue that fair use is likely much larger than we imagine, specifically in relation to online video, and the clip real they put together makes a convincing stance. This is a must see for anyone interested in the current state of copyright law in the United States – be sure to check it out!