You didn't factor in Capital Cost (price of your mining rig) and all the other factors discussed on this forum before.
If the card I purchased for mining died today (and it was not under warranty), then add $0.27 to the cost of every BTC I've mined to date. That makes the coins I've mined recently cost $0.75, not $0.48, but still far from $2.75.
My point was, there should be a very (very) rough estimate of what it costs to make a bitcoin. I know mining hardware can vary in efficiency, and electric costs are not the same everywhere. But I think if you average it all out, you'd get a figure far under $2.75.
I'm curious what that figure would be... then you could say, "Every 10 minutes, the world is spending about $ X USD to create 50 BTC"... has someone already figured this number out?