I found an answer to this problem on the Biola University IT Services Confluence board.
Basically you need to build the following URL,
http://drive.google.com/uc?export=view&id=<FILEID>
Where the <FILEID>
is obtained by going to the Shared options of your Google Drive image, ensuring it is shared as Public (look in the advance sharing options) and copying the shareable link which will look something like this,
https://drive.google.com/file/d/
0ByvA2N_U0L32YkpZcEEzSlNnamM/view?usp=sharing
the <FILEID>
you need is in bold above, it is between the ...file/d/
and /view..
part of the link.
So that your final embeddable link looks like,
http://drive.google.com/uc?export=view&id=0ByvA2N_U0L32YkpZcEEzSlNnamM
which you can embed in an thml page for example with and img
tag,
<img src="https://drive.google.com/uc?export=view&id=0ByvA2N_U0L32YkpZcEEzSlNnamM"/>