There are 2 schools of thought on the subject. Some believe that we don't need government regulations because they believe the industries will handle it competently without being told to. Some believe the industries will allow dangerous situations to exist in the name of efficiency.
I come down on the pro-OSHA side of the question. My husband is a retired construction worker who now teaches OSHA safety classes part time. He has told me many stories of companies creating and allowing unsafe working conditions. It costs them money to have safety equipment and safety requirements sometimes slows job completion. Some object to safety inspections because they are subject to fines if found in violation.